Manny Kagan

What To Do When A Relationship Hits A Bumpy Road

“Successful marriage is hard work. Are you doing your best?“

Yesterday, August 8th, we celebrated our 46th wedding anniversary in my wife Elfa’s favorite place—The Sea Ranch. Our daughters, Alona came from Paris and Tamar from L.A. Some people asked us how we have managed to stay together for so long and keep a loving relationship. What is out secret? To answer this question, I decided to write a book, “The Marriage Game: The 7+ C’s and How to Connect Them”.
You might notice that the title is similar to my previous book, “The Mortgage Game: The 5 C’s and How to Connect Them”. Not only are the titles similar, but I am also using “The C’s”, which in this care are: Communication, Cooperation, Commitment, Compromise, Creativity,Compassion, and Caring. (It was actually our daughters who came up with this idea to use words which start with the letter C, as I did in “The Mortgage Game”. Then there are the additional “C’s”, as per my wife Elfa’s suggestion,Copulation and my contribution, Cuddling.) Though we both worked hard and with joy to keep our marriage a success, the main credit belongs to my wife and partner, Elfa. She also agreed to partner with me on this project as well. I started to write this book on our trip in The Sea Ranch and am planning to finish it before the end of the year.

Stay tuned!

So why title a newsletter about such a joyful event in our lives—“What To Do When A Relationship Hits a Bumpy Road”? Because any relationship is a journey through life and there are many bumps in the road.

Actually, the title came into mind while reflecting about what is currently going on in the mortgage business. I am obviously upset that because of the new regulations, my clients have to deal with so many complicated hardships. However, applying my extensive experience in dealing with “bumpy roads” in my marriage, I decided to deal with the current developments in the mortgage business with patience and understanding. After 30 years of being a mortgage broker, it seems that I am also “married” to this business.

I had lunch recently with my old friend, Ed Sutton, with whom I reconnected after almost 30 years. He is very good at helping people prepare their tax returns. He can be reached at [email protected] / 650-755-1040 or via his website. Ed has been married for 39 years, and when I asked him what he thinks is his “secret” for his long marriage, he answered without hesitation—good communication. I will write about what I think this really means in my new book.

P.S.

I took these images at The Sea Ranch. Though they are undoubtedly beautiful, you need to come here to have your own experience.

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Best Wishes,

What Do You Think About?

“Humans differ from animals by the way they think. Humans differ from each other by what they think about.”

In the courtyard of the Legion of Honor Museum, there is a large sculpture of August Rodin’s The Thinker. On our last visit to the museum, we saw the “Impressionists on the Water” exhibit—a very compact show that features beautiful art by the artists who lived close to the waterways in France at the end of the 19th to the early 20th century, and who became known as impressionists because of the specific way they created their art. It was interesting to see how the curator put together a collection where most of the images had an unusual composition (at least from my photographic eye).

On the way out, I photographed a group of visitors who posed in the front of the sculpture, pretending to show how they think. A friend of mine, Greg Durrett, told me that when he lived close to the museum, he would go there regularly to photograph the “pretending” thinkers.

Earl Nightingale once remarked, “We become what we think about most of the time”.

What we think about is often affected by the world we live in and of course our own personal disposition. We were recently at a friend’s house where a group of men and women discussed the “hot topics” of the day–the Asiana Flight 214 crash in San Francisco and the George Zimmerman trial. Everyone had their own opinion about those stories, but the reference was primarily based on what people read in the newspapers or saw on TV. At the same time, someone commented that one cannot believe everything they read in the newspapers.

Unfortunately, those are the sources which affect our thinking about economic or political decisions as well. When Congress passed the Dodd-Frank Act in 2010, there was an overreaction to the events, which at the time were ‘old news’. The purpose of the act was to try to prevent the same type of economic disasters from happening again. The problem was that creating a document over one thousand pages long, and further attempting to implement it, was given to people whose thinking was affected by what happened in the past without any idea how to take care of the future.

The result is regulatory overkill. Since the problems were caused by the actions of the Wall Street firms and large commercial banks, regulation of the loan origination side of the mortgage industry is over-productive. What borrowers need is not protection from phantom predators, but rather solutions on how to make their lives better. In the mortgage business, it is relatively simple to accomplish. Just follow the rules of the 5 C’s that I wrote about in “The Mortgage Game: The 5 C’s and How to Connect Them”. Plus add one more “C”— Common Sense, and many problems will disappear. Unfortunately, this might lead to an increase of unemployment since no one really needs regulators to tell us how to live our lives and conduct our businesses; unless of course, those people are trained to be productive. According to the Bureau of Labor Statistics, There are 3.8 million unfilled employment opportunities in the United States. But removing regulators will increase employment for those who really want to work for a living, such as developers, builders, and anyone involved in real estate related activities and this will turn the world around. (But this might also increase interest rates. Be careful what you wish for.)

P.S.

We are closing more sales transactions. Every case has its own set of complications. In one of them, I was very pleased when the clients listened to my advice and offered a higher price. Luckily, their offer was accepted. They kept their monthly payments “affordable” by choosing a loan with a fixed rate for 7 years (not 30), and interest rate 3.75%.

P.P.S.

I also live by the water and thought that we do not have the same quality of light. As it is in the South of France, I humbly present you some of my images related to the subject.

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Best Wishes,

It is Not About the Amount, But What It Can Do For You

Would you like to get 3.25% fixed for 7 years?”

“When we focus on the destination, we will find a way to get there.”

How do you think a client would react when he received a call from me that his loan request for $2,200,000 was approved? It would replace his existing mortgage of $1,200,000 at 5.50%. The new interest rate will be 10.50% and will cost 4 points or $88,000, plus closing costs of about $5,000 to get it. You probably would think that the client, who was very happy for that wonderful news, had lost his marbles.

What I did not tell you is that the client is a contractor. He owns an old house in a prime location. He is planning to rebuild it by adding 4,000 sq. ft. After he finishes construction, the new house could be sold for over $4 million. Now you can do your own math. The interest cost is going to be $231,000 plus the closing cost of $93,000, subtract those numbers plus the loan amount from the sales price. The balance is the profit (minus taxes and real estate commission) and suddenly a 10.50% interest rate is no longer such a big deal—especially since the client is not qualified to get a construction loan from a commercial bank.

The title of this story came from my assistant Samantha, after I shared with her a conversation I had with a friend. He came to me for marketing advice. While listening to him, I was squeezing a yellow rubber ball to increase blood circulation in my fingers to relieve some discomfort in my pinky. I picked up this ball as a freebee at a conference. On one side of the ball, there is a smiling face and on the other is a marketing message. I showed him both sides, pointing out that in a given moment we are both looking at the same ball from opposite sides and getting a different message. But in the end—neither of those messages are important. Since the purpose of squeezing the ball is to relieve stress or to increase blood circulation.

The same goes with getting a mortgage. Borrowers are often fixated on securing a fixed rate and not on improving their cash flow. The result can be like a recent conversation I had with a client. Their current mortgage of $635,000 (They can pay it down to $625,500 to get a better rate), has an interest rate of 5.25% and monthly payments of $4,000 plus $300 for the mortgage insurance. We started talking about refinancing a while back when the fixed rates were at 3.50%, but she never sent me the paperwork. I called her recently suggesting that they send documents to be ready when rates will come down again to which she responded that she was only interested if the rate was 3.50%.

Today (after rates went up), they can get 4.50% for 30 years fixed rate or 4.00% fixed for 7 years, with the savings of $182 a month between those two options. At the same time in comparison with their payments today, the savings could be $1,300/month. Would you wait for to get a lower interest rate or act now?

P.S.

The buildings in Havana, Cuba (as you can see in my images), might be good candidates for improvement. As far as getting construction loans—it is a different story. You can join me in December on our trip to Cuba to check out more development opportunities. Please do not procrastinate. There are limited seats on the plane.

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Best Wishes,

You Cannot Reverse Age, But You Could Possibly Reverse a Mortgage

“Wine and cheese get better with age. How about people?

Some do.

Others get wiser.”

Marcelo at 95

A few weeks ago our telephone rang at 7:30am on a Sunday morning. The Caller ID showed the call was coming from New Jersey, so I knew that it was our dear friend Marcelo. He beat me to wish me a “Happy Father’s Day.”
Marcelo is turning 97 in August. His wife died some years ago, followed by his girlfriend. Now he has a new one (a younger woman, of course). When I asked how he is doing, he said without complaining, that his sight is not good anymore and he had fallen down, broken his nose, and needed stitches on his forehead.

But he added “I am alright now”.

“I do not hear well”, he continued, “and when I fell down my hearing aid broke. But I am getting a new one which works better”, he added. “I have difficulty bending down”, he said, “but a young woman comes over every day now to help me”.

And then he switched to politics. “Obama does not know what he is doing and World politics stink, but otherwise ‘Baruh Ha Shem’—Thank God everything is good”.
Marcelo has lived in many parts of the world and speaks seven languages. At the beginning of World War II, he lived in Paris. As a Jew from Lithuania, there was no way out (but through a concentration camp). One day, he was walking down the street and overheard a conversation between two men.

“You can go to the Argentinian embassy and tell the council that Victor sent you to get a Visa.”

Without hesitation, he did just that. A month later, he was on a ship to Buenos Aires. In spite of the many challenges in his life, he is always optimistic.
We came to celebrate his 95 birthday two years ago, and it was a great party.

Judy–Marcelo’s friend
A few months ago, Marcelo called and asked if we do reverse mortgages. We do. Reverse mortgages are loans, which can be given to persons starting at the age of 62. One does not need to have income or credit score to qualify. As long as there is sufficient equity in the property (preferably with no existing loans, or with a very small balance), borrowers can receive a substantial amount of money in the lump sum or in installments. I write about this program in more detail in my second and forthcoming book, “Mortgage Solutions for Smart People: 5 Easy Ways to Get Your Loan Approved”.

A woman I met on the street

The cost of getting it and the cost of mortgage insurance is deducted from the amount of the loan before distribution. The interest is quite low and accumulates during the life of the recipient. When a person dies, if there is equity left, it goes to the heirs.

This program is not for everyone and since real estate values have dropped, many cannot benefit from this opportunity. After I explained to Marcelo how the program works, he decided against it. He thought he will manage and besides he wanted to leave more to his grandchildren. There are talks that it is going to be more difficult to get those loans, but so far, as long as there is lendable equity, some borrowers enjoy the money milked from their home, without the need to repay it.

I met this man at the Farmer’s Market in Gualala.

P.S.

I like to photograph wise people. Not only because of their wisdom, which is not always obvious, but also because many of them show their character without inhibition and do not pretend to be what they are not.

P.P.S
On my trip to Cuba in February, I met a lot of wise women and men—and so can you. We are going there again in December for the Havana Jazz Festival. You may join us.

Do not keep me as a secret.

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Best Wishes,

What the Mortgage Industry Can Learn From Zuni Café

“We have only one stomach with a limited capacity, but our brain has no limits. We need to feed them both; so choose your food carefully.”

The meeting place

When I am asked which is my favorite restaurant in San Francisco, without hesitation—my answer is Zuni Café. Despite the misleading name, it is a large restaurant located on Market street (between Gough and Franklin Street). We’ve been going there for at least 23 years. In San Francisco, we are blessed with many great restaurants, and since we often eat out, we have been in many of them through the years.

We go to Hayes Bar and Grill for very good fish before concerts at Davies Symphony Hall. We go to Firefly, a neighborhood restaurant on 24^th and Douglas, for excellent eclectic cuisine. There is a new small Greek restaurant on West Portal called Orexi, where the food is as good as at Kokkari, downtown. There is a Vietnamese restaurant, The Slanted Door, in the Ferry building (and its smaller version, Out The Door, on Bush and Fillmore).Outerlands, is at the end of Judah street close to the ocean, and is one of the city’s jewels if you are willing to wait to get a table since they do not take reservations.

The list goes on and on. There are probably a few new ones opening as I write this letter! Restaurants are a tough business and to survive for a long time and still draw loyal customers is a very high achievement. (I am proud that our company—Pacific Bay Financial, which has been in business since 1985, is also in the same league.)

What makes Zuni Café so special is that they stick to the basics: good ingredients, a good diverse menu, very good chefs, well-trained employees (waiters, bartenders, and service personnel), systems and of course—the management.

But what the mortgage industry can really learn from Zuni Café is their speed of execution. On our most recent time there, we were seated in front of the kitchen and watched the action. The kitchen staff worked with such speed and precision. Everyone moved very fast, sometimes running with one goal in mind—to serve the customers.

Ugur Tartuk worked by the stove preparing the famous chicken for two and my fish order, and could work at every kitchen station. Meanwhile, Ken Turner conducted the food distribution process. Thanks to him, we got our orders in the shortest possible time.

I looked around and did not notice any regulators, who would taste every dish before it was served. And no one sends a customer’s iPhone over a hundred pages of disclosures, claiming that the food they are about to eat can cause an increase in weight and the wine they are going to drink can make them drunk. Such things are the customer’s choice; therefore, please do not sue the restaurant nor the rest of the world, if this happens. Regretfully, this portrayal is what is going on in the mortgage business.

And because the regulators enforce “financial protection” without any regards to the customers’ real needs, the mortgage process has become very tedious and slow.

I doubt if the mortgage industry will adopt the good service practice offered by Zuni Café and other good restaurants soon. Well at least after a stressful and tiring work day, we can enjoy a good meal with friends.

Adriane Harrison, who conducts the restaurant’s traffic, always greets you with a smile.

Gilbert Pilgrim, the owner, in a blissful moment.

P.S.

I decided to write this story on the spur of the moment while dining in Zuni Café a few weeks ago. The part-owner, Gilbert Pilgrim (who is a very good chef), was dining there as well, and I asked his permission to take some photos with my iPhone. I wish I could photograph everyone who always serves us with a smile. But meanwhile, enjoy some of the images.

The next time you have difficulty to make a reservation, tell them that you are Manny’s friend. If this will not work, call me, and I will use my connections.

P.P.S
Some of my clients are choosing a loan fixed for 7 years with the interest rate 3.375%, which significantly improves their cash flow. What are you waiting for?

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Best Wishes,

Even When We Celebrate Independence, We Are Interdependent

“Too much light makes us blind — not enlightened.”

You are probably reading this the day after the celebration of the American Independence Day, which we usually associate with parties and fireworks. Bright sparks fill the dark sky and often it is a very spectacular scene. But if not for a dark sky, no amount of light would have the desired effect. During the Creation of the World in the Torah, God said:

“Let there be light” and there was light. God saw the light was good, and God separated between the light and the darkness. –Genesis 1:3-4

Every photographer knows that too much light can “kill the image”. Therefore, the best time to shoot photos is in the morning or in the afternoon when the sun is not so bright. To have an attractive image, there has to be a good balance between light and darkness.

Unfortunately, those who created regulations to control the mortgage loan origination process did not study photography. Those who created the Consumer Financial Protection Bureau, which resulted from the Dodd-Frank act, have no idea that too many disclosures in the environment, that is already flooded with information (light) will “kill” any information about the possible pitfalls that may result when getting a mortgage.

After the stressful process of finding real estate property and ensuring qualification for a mortgage, the borrower receives about 114 pages of the government’s regulator mandated disclosures online. Since the appraisal report cannot be ordered until these documents are signed and forwarded back, no one in their right mind will read any of those disclosures. So who needs them? And whom is the government trying to protect?

Meanwhile, our small mortgage bank hired 20 employees, headed by an attorney, whose job it is to ensure that the disclosure process is followed exactly as prescribed. Before the change, the bank’s underwriters could finish 5 loan applications a day, now only 1 ½. In the past, our processors could process at least 10 loans a month, but now with the added huge stress from the confusing paperwork—only 5.Who do you think is paying for the increase in costs of getting a mortgage? Ask yourself, do you need all this “financial protection”?

I love America. I love the Mortgage Business. I love my clients. I even like that more people are employed, but I do not like how regulators, who did not read “The Mortgage Game: The 5 C’s and How to Connect Them”, are telling all of us how to run the mortgage business.

P.S.

I like to photograph images with light as the subject. The photographs in this newsletter are part of my large collection. I hope you will soon be able to see more of my photo work, since I am planning to have a show.

P.P.S

The interest rates started to inch down. Do not wait until they get lower. Start the paperwork now.

Do not keep me as a secret.

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Best Wishes,

Why Do We Hire When Interest Rates Rise? What Does it Have to Do With Images of Jumbo Jets?

“When I wake up in the middle of the night and see dark skies, I know that there will be light in the morning.”

There is always a story for every story (two in this case). I wanted to write about what is going on in the mortgage business, but needed another catchy story to go with it. Today, I received two calls from lenders describing their new Jumbo loans and I started to think about how to inform borrowers about them.

Meanwhile, as I mentioned in the last couple of newsletters, I still cannot access my photo images on my computer. Therefore, I am limited to what I can write about, since photos are an important part of my stories. The solution was in my pocket. Browsing through the camera roll on my iPhone, I found some photos of jumbo jets that I took during my last trip to Phoenix and, I thought they were a perfect parallel to the Jumbo loans that I wanted to write about this week. When we travel, I often photograph from the plane and have quite a few interesting shots that I have framed and am planning to exhibit one day.

Regarding mortgages, you might know that interest rates have recently gone up, and consequently slowed down refinance activities. We do have borrowers who buy new properties, as well as a few whom I can help to get loans without stating their income. Some banks have started lending these types of loans again, but one needs to know how to present their personal information to qualify.

Regarding Jumbo loans, there was an article in the Wall Street Journal pointing out that those loans might be better priced than conforming loans. The Federal Government who owns Fannie Mae and Freddie Mac does not know what to do with them, and the only reason why the interest rates stayed low was because the Federal Reserve was buying mortgage bonds. When the stock market started doing better, the Fed sent a message that the bond buying might slow down, and mortgage rates consequently jumped up.

Most banks made a killing from the low rate mortgages. At the same time, higher rates will increase their profit margin, and they will not need to fund so many loans. This will result in mortgage-industry related layoffs. For banks, mortgages are just one of the profitable products in good times and losses in the bad times.

For us, mortgages are our lifeline. This is all that we do and we are very good at it. During the tough years from 2008 until the summer of 2010, we barely survived. (You can read more about that in my book, “The Mortgage Game: The 5 C’s and How to Connect Them”. )

I think that interest rates will come down again soon. We need to be ready. I strongly encourage you not to wait. Prepare the paperwork now. When it happens, no one will have time to deal with the volume. Besides, even today I can get you 3.25% fixed for 7 years. Who needs it for 30? Most people change it down the road, anyway. Many borrowers in our area have Jumbo loans (over $625,000), which have relatively low interest rates as well.

P.S.

Some time ago, I wrote about TICs (Tenancy in Common). According to a recent article in the San Francisco Chronicle, the San Francisco board of Supervisors introduced a significant change in the way TICs will be created in the future. All of these changes will affect getting loans for the purchase and condo conversions. You might know someone who might need my assistance. Lately I’ve helped quite a few borrowers with those loans.

Do not keep me as a secret.

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Best Wishes,

We Are All Children At Heart

“If we are children at the beginning of our lives and behave like them at the end, who are we in between?

An adult is a child in bigger clothing, and who plays in a game called Life. Learn the rules, break them, and have fun.”

Sometimes you need more than 10 fingers to play

I showed my assistant Samantha some of the photos of children that I’ve taken with my iPhone, to which she remarked, “You have to use those images in your next ‘Good News’ with the title “We Are All Children at Heart”. Luckily, this is the perfect fit for what I wanted to write about. Children play games, as do adults. This is why I titled my first book, “The Mortgage Game: The 5 C’s and How to Connect Them”. I’ve mentioned in my previous newsletters, that I used this book as well as my next one “Mortgage Solutions for Smart People: 5 Easy Ways to Get Your Loan Approved” (which will be available as an ebook shortly–will keep you posted), to create an educational course: “How to Play the Mortgage Game and Win”.

A lot of people take their life and the process of getting a mortgage too seriously. It is all just a game. There are no winners or losers—just players. If you think you lost, practice, learn, and then the next time, you might win; as long as you have fun playing. It helps to know the rules of the game. I wrote two books to help you with the mortgage rules. In my class, there are 10 students, who have committed four Sundays to learn these rules. Of course, knowing the rules is not enough, one needs to practice. I have been playing the mortgage game for almost 30 years and every day I still learn something new.

child2
We have to learn to smile early in life

Keeping a diary is good practice for writers

My new clients John and Beth wanted to buy a house in Piedmont for $1,150,000. The house needed improvements, but both felt that it was still a bargain. John had a very good salary. Beth—who also worked, had the money. There were only a few issues to resolve. Both were still married to other people, and were going through divorces.

John owned another house for which, his (soon to be) ex made the monthly mortgage payments. When we ran his credit, there were three recent late payments on the mortgage, which significantly lowered his credit score. As a result, I could not use John’s income to qualify for a loan.

There was a possible solution—to find a bank that could do a mortgage without stating income, (unlike loans in the past that required borrowers to lie about their income) and with only Beth as the borrower. We work with a few lenders who can do these kinds of loans, which require a significant down payment. I collected all of the documents and took them to the lender, only to discover that they do not lend in Oakland/Piedmont.

Buying food can also be a game

An art connoisseur

The next bank I considered has a branch in Oakland, and could approve the loan with a 40% down payment. The next issue was time. The real estate agent negotiated a close of escrow in 25 days which is very difficult to perform. The bank said they needed 35 to 45 days. Then there was also the issue to be sure that the house would appraise for the agreed upon price. During the fast growing appreciation of home prices, there are not always three comparisons (comps) available to get an appraised value. Luckily, the real estate agent was able to delay the appraisal removal date as well as the close of escrow.

When my clients got stressed with all of these issues, my advice was to look at the loan process as a game. Try to have fun instead of getting aggravated.

P.S.

The images of children I took with my iPhone show just how much there is to enjoy in our lives, while playing a game.

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Best Wishes,

How to Celebrate Father’s Day

“Abraham is revered as the father of three religions: Judaism, Christianity, and Islam. Unfortunately, his children forget that they are brothers and sisters.”

In the Torah, there is a very disturbing (for modern readers) story about how God tested Abraham, whom he told that:

“You shall be a father of a multitude of nations.” Genesis 17:4

And then one day God said to Abraham:

“Please take your son—your only one, whom you love, Isaac, and bring him as an offering.” Genesis 22:2

This request obviously did not make any sense, but what is fascinating later on, it is said:

“And the two of them went together.” Genesis 22:6

Father and son walked together to their unknown destiny, where both of them were partners in the test.

I thought about this when on a trip to New York, I photographed a man and a boy in an over-sized jacket walking together.

One of the ways to save on gym feesIn our society, the celebration and recognition one day a year, Fathers, has become a commercial event. (Or perhaps it was created for this purpose?) Many live with the old stereotype that while the Mother takes care of the children, the Father is the breadwinner.

However, in these modern times, many of my clients have different circumstances. I refinanced a mortgage for a man who takes care of his two little children after his wife left them. I also helped a gay male couple buy a new home, both of whom work and raise their children together.

Joy of fatherhood is immeasurableI am now helping a couple with three children, get a mortgage for their first home. In this family, the husband is a stay-at-home dad while his wife pursues her business career.

I am blessed to have two daughters who love and respect me, and we celebrate our wonderful relationship all the time. And I know other families who have this blessed relationship.

Father’s gift is to help his wife shop

A friend of mine, Johanna Forman, a great architect who designed the interior of my new office (you may reach her at [email protected]), told me about her recent visit to her father, who lives in Maine. With great pride, she shared that he was one of the first African American fighter pilots who served in the Korean War. After the war, he went on to develop some of the first computers, and until now at the wise age of 82, he still enjoys a good life and gives his daughter investment advice.

I think the best gift one can give to his or her father is to share with the world the pride and love they have for one who gave them their life.

Do not keep me as a secret.

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Best Wishes,

What Photography and the Mortgage Business Have in Common

“Focus on the results. Even when you want to create a photo image that is out of focus, the result is what you focus on.“

Wonders of nature

The word “photography” has two parts: photo, which means light, and graph, which means to draw (i.e. to draw with light).

The word “mortgage” also consists of two parts: mort, which means dead, and gage, which means pledge. (i.e. it is a dead pledge)

To be great at either taking a good photo or helping someone get a good a mortgage, one needs to keep the end result in mind.

Both occupations require a lot of patience and constant practice.

Mistakes are sometimes made, and it might take more than one attempt to get things right. In both cases, mistakes can be corrected as long as one knows how.

Information needs to be processed utilizing technology in order to get results.

Even though technology is involved, there is a need for paper.

Though photographers and loan originators can often do all the work themselves, assistants and processors are experts in their own field, and are great team members.

In both fields, light has to be shed on the dark areas. Sometimes there is a need to wait for a better time or circumstances.

The outcome is not always the expected one; nevertheless, it can still be very satisfying.

The Renaissance Man

I have no words to describe such beauty

Specific education can help, but an overall life experience can be an asset.

There is no compensation, until someone is happy with the results.

A good photo image evokes emotion, as does the process of getting a mortgage.

In photography, there are 5 connecting elements in each image: the subject, light, aperture, shutter speed and ISO.

In the mortgage business, there are the 5 C’s, that I describe in my first book,“The Mortgage Game: The 5 C’s and How to Connect Them” and explain in more detail in my forthcoming second book, “Mortgage Solutions for Smart People: 5 Easy Ways to Get Your Loan Approved”.

And of course, both photography and the mortgage business have me, and I humbly try to bring you the beauty in photography and the tamed beast in the mortgage business together in the “Good News From Dr. Manny”.

I do not have a specialty as a photographer, but I am drawn to four subjects: street scenes, portraits, nature, and abstracts.

In the mortgage business, I am also drawn to four subjects: residential, commercial, apartment buildings, and construction loans.

The sky is the limit

P.S.

I included photo samples of each of the subjects, which I took with an iPhone. You can see more of my mortgage related photo stories in past issues of Good News From Dr. Manny.

P.P.S.

Peter Karp—my extraordinary money manager, expressed his opinion that the Federal Government will probably react to the investors’ rush to unloan bonds (including mortgage bonds). This might be the reason of the increase of interest rates. Rates may potentially drop again for a short period of time. You can prepare yourself by locking your rate. Just send me your loan documents. Please do not procrastinate. I want to help you help yourself and lower your monthly payments.

Please do not keep me a secret.

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Best Wishes,